Pre-opening Comments for Wednesday April 19^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 24 points at 8:30 AM EDT.

United Airlines gained $0.51 to $43.55 after reporting a lower than consensus first quarter loss. The company also offered positive second quarter guidance.

Netflix slipped $0.55 to $333.15 after reporting slightly less than consensus first quarter earnings.

Intuitive Surgical advanced $21.90 to $291.18 after reporting higher than consensus first quarter earnings.

Fox slipped $0.34 to $33.66 after reaching a settlement with Dominion by paying $787.5 million.

 

EquityClock’s Daily Comment

Headline reads “The pace of housing authorizations is slowing as builders seek to adsorb multi-decade high levels of land inventory”.

http://www.equityclock.com/2023/04/18/stock-market-outlook-for-april-19-2023/

 

Technical Notes

Copper ETF $COPX moved above $42.09 extending an intermediate uptrend.

Booking Holdings $BKNG an S&P 100 stock moved above $2,715.66 to an all-time high extending an intermediate uptrend.

Raytheon Technologies $RTX an S&P 100 stock moved above $103.60 to an all-time high (excluding phantom trades in late January) extending an intermediate uptrend.

TSX 60 iShares $XIU.TO moved above Cdn$31.61 and $XIC.TO moved above Cdn$32.96 extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 18^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 18^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 18^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Source for positive seasonal ratings: www.equityclock.com

 

Links offered by valued providers

ChartChat with Grayson Roze and Greg Schnell, CMT | StockCharts TV (04.17.23)

https://www.youtube.com/watch?v=wMxumn-MF90

 

Are Small Caps Ready to SOAR? | Tom Bowley | Trading Places (04.18.23)

https://www.youtube.com/watch?v=lQv6AEq5nGE

 

Sector Rotation Suggests Market Ready to Move | Julius de Kempenaer | Sector Spotlight (04.18.23)

https://www.youtube.com/watch?v=im7ccfSK3fQ

 

Interesting Development in Energy | Joe Rabil | Your Daily Five (04.18.23)

https://www.youtube.com/watch?v=n8tVflihWLQ

 

PMO BUY Signal on Natural Gas | Erin Swenlin | The DecisionPoint Trading Room (04.17.23)

https://www.youtube.com/watch?v=du-juSs2XLs

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 2.60 to 60.40. It changed from Neutral to Overbought on a moved above 60.00. Daily trend remains up.

The long term Barometer slipped 0.20 to 61.80. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer added 0.43 to 62.93. It remains Overbought. Daily trend remains up.

The long term Barometer added 0.43 to 68.10. It remains Overbought. Daily trend remains up.

 

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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